Understanding Paid, Owned and Earned is crucial for digital marketers and is a vital component of every marketing strategy.
It’s useful to understand the difference between Paid, Owned and Earned, how to measure your efforts within each one and how they affect each other.
It’s also important to understand how your target audiences use each of these platforms so you know how to best engage them.
These are channels a brand pays to utilize and reach customers and prospects at every level of your conversion funnel.
Paid Media, due to its enhanced targeting, is a great way to reach your desired target audience.
Paid Media includes social platform ads like Facebook Ads, Instagram Ads, Twitter Ads, Snapchat Ads, YouTube Ads and Spotify Ads. It also includes Display Ad Networks like the Google Display Network (GDN) and Facebook Audience Network (FAN), and Search Engine Marketing (SEM) ads on platforms like Google, Bing and Yahoo.
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Owned Media is channels your brand owns and you’re not paying someone else to reach your own audience. These people are already starting to flow through your conversion funnel.
This audience has already discovered your brand and you need to serve them with more content a level deeper than brand awareness.
Owned Media includes your website, social media pages and campaigns emailed to your subscriber / CRM database.
Earned media is exposure you’ve obtained through people within your own network.
It includes using influencers, placements in media, public reviews of your product or simply advocates sharing your social content.
Earned media helps you bring new people into the top of your conversion funnel and the right influencers will bring you additional brand credibility.
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Adding Paid to Owned Media or Earned Media
Adding Paid Media to existing Owned and Earned Media will allow you to push engaging content out to new audiences.
If you are working with influencers, consider whitelisting them, boosting their tweets, on Twitter and on Facebook use Branded Content.
These posts will generally see a higher level of engagement and is a good reward for influencers as there post will get seen by many more people.
Reasons You Need to Have a Multi-Platform Marketing Strategy
The reasons people respond best to multi-platform campaigns are, firstly, our attention spans are short our tendency towards spending time on a single piece of content or a single platform for extended periods is low.
Secondly, our lives are built around many different digital platforms, not just one, and we’re getting quicker at adopting new ones too. We have less sense of loyalty to one platform and are perfectly content moving across several platforms and in rapid succession.
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